selling a home

What is capital gains tax and how does it affect me?

When you sell or inherit a home, it’s important to know that not all of the home value will end up in your pocket. You may have to pay what is known as a capital gains tax. This occurs when the home’s sale price is more than the home’s fair market value. However, you may qualify to exclude it from your income if your income is below a certain threshold or the sale of the property doesn’t exceed $250,000, or ...
interest rates

What is a temporary buydown?

While purchasing a home is an expensive undertaking, we’re always looking for ways to make it more affordable. It shouldn’t be just left to the borrower to shop mortgage rates and negotiate prices; there are programs mortgage lenders can make available on their end to ensure their customers have a manageable  monthly mortgage payment. One of these options is what is known as a temporary buydown. Temporarily reduce mortgage interest payments Temporary Buydowns allow buyers to get a more affordable ...
apply for mortgage

4 tips for finding the best mortgage rate for you

Mortgage rates are determined by many factors such as your credit score, down payment, and various economic conditions. To really know if you’re getting the best mortgage rate for you, it’s best to first understand how the market works. Here are four tips for finding the best mortgage rate for you: Research your mortgage options There are many types of mortgages available, which one is ‘best’ depends on your unique situation. Conventional, FHA, USDA, and veteran loans are just a ...
buying a home

5 tips for negotiating a home’s sale price

When purchasing a home, the sale price isn’t set in stone. There is a lot of negotiating involved to come to a conclusion that will appeal to both the seller and the buyer—especially in a competitive market. Up next: the essential checklist for new home buyers (more…) ...
digital mortgage applications

3 benefits of eClosings & digital mortgage applications

In this modern age of smartphones and many services moving online for convenience and speed, customers expect to find everything online. To accommodate, businesses are putting more and more of the home buying process online, from searching for a home to closing. eClosings and digital mortgage applications have become more common and are meant to streamline the process. What’s the difference? An eClosing is when a mortgage loan is closed electronically. In contrast, a digital mortgage application is a paperless ...
mortgage qualification

4 mortgage myths you can stop believing

Purchasing and owning a home is considered a big part of the American dream. Unfortunately, there are many myths surrounding mortgages that can make it much harder to understand what goes into getting one. Here, we will dispel four of the most common mortgage myths: You have to put 20% down While putting 20% down on a home may have been the case in the past and is recommended to avoid private mortgage insurance (PMI), it is often not required ...
credit report

5 things that affect your credit score

Your credit score is a critical part of your life. It helps determine the loans you are eligible for and the rates you pay. Insurance companies can also use your credit score to set premiums for coverage like auto. When you apply for a new credit card, a home loan, or even get a credit card offer in the mail, your credit history is pulled. This is called either a hard or soft inquiry. (more…) ...
home with mortgage

I inherited a home with a mortgage. What happens now?

Be it the home that has been in the family for generations or your parent’s house, inheriting a home can be a windfall. But what happens when that home has a mortgage attached to it? Know what type of mortgage the home has When you first inherit a home with a mortgage, you must know what type of mortgage it has attached. This will tell you a lot about what you can expect moving forward. For example, if the home ...
Guild Mortgage partnership

4 Essential marketing automation tools for agents

Marketing automation helps real estate agents keep in touch with their clients while providing the reporting needed for real estate professionals to grow their brand. The following are a few marketing automation tools that Smartmortgage/Guild uses to improve our client experience. Homebot Homebot is a tool that Guild provides free for everyone who closes a loan with us. It gives homeowners insight into their home equity and options on what they can do with it. Each homeowner receives a monthly ...
keep yourself safe online

Keep yourself and your information safe: Protect yourself from online scams

With more and more banking and home buying happening online, you must know how to protect yourself and your personal information. Online scams and fraud  take advantage of someone to steal their money or identity through the use of bogus websites, links, and emails, among other methods. Millions of dollars are lost each year to these crimes and can affect any one of any age. To keep yourself and your information safe online, follow these four tips: (more…) ...

The information provided herein has been prepared by a third party company and has been distributed for education purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

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